Suppose you started your own landscaping business. A customer paid you $120 in advance to mow his lawn while he was on vacation. You also performed landscaping services for a local business, but the business hasn't paid you the $390 fee yet. In addition, a customer paid you $130 cash for landscaping services Answer the following questions about the correct way to account for your revenue under accrual accounting: 1. Name the accounts used to record these events. 2. Prepare the journal entries to record the three transactions 1. Name the accounts used to record these events. (Leave unused cells blank.)

Suppose you started your own landscaping business. A customer paid you $120 in advance to mow his lawn while he was on vacation. You also performed landscaping services for a local business, but the business hasn't paid you the $390 fee yet. In addition, a customer paid you $130 cash for landscaping services Answer the following questions about the correct way to account for your revenue under accrual accounting: 1. Name the accounts used to record these events. 2. Prepare the journal entries to record the three transactions 1. Name the accounts used to record these events. (Leave unused cells blank.)

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter4: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 4A: Your client is preparing financial statements to show the bank. You know that he has incurred a...

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